Devices & Diagnostics

Sleep-monitoring firm Zeo raises $1 million

Zeo Inc. raised $1 million of a proposed $1.5 million debt financing round. The company, formerly known as Axon Labs, opened the round July 30, with three investors participating, according to a Securities & Exchange Commission filing. The filing lists board members Ronald Chwang of iD Ventures America, Peter Meekin of Trident Capital and iRobot […]

Zeo Inc. raised $1 million of a proposed $1.5 million debt financing round.

The company, formerly known as Axon Labs, opened the round July 30, with three investors participating, according to a Securities & Exchange Commission filing.

The filing lists board members Ronald Chwang of iD Ventures America, Peter Meekin of Trident Capital and iRobot Inc. CEO Colin Angle. Santa Clara, Calif.-based iD Ventures and Westport, Conn.- and Palo Alto, Calif.-based Trident Capital both invested in the company in previous funding rounds.

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The Newton, Mass.-based sleep-monitoring company makes an alarm clock called the “Personal Sleep Coach,” which hit the market in October 2009. The company also introduced an iPhone app in March.

Zeo plans to use the cash to fund new product development, boost its customer service operations and pay for day-to-day expenses, co-founder and vice president of brand management Jason Donahue told the Xconomy website.

The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.

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